Today's Brief 3/04/2025

JS Analysis:https://youtu.be/62R053PJ2BQ?si=UJJMBB5pypX5Ah7O

1 .The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, commonly known as BIMSTEC, is a significant regional organization established on June 6, 1997, through the Bangkok Declaration.

Its primary aim is to enhance technical and economic collaboration among nations situated along the Bay of Bengal, effectively bridging South Asia and Southeast Asia. Initially formed as BIST-EC with Bangladesh, India, Sri Lanka, and Thailand, it expanded to include Myanmar later in 1997 (becoming BIMST-EC) and subsequently Nepal and Bhutan in 2004, bringing the total membership to seven countries: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.

The organization's permanent secretariat is headquartered in Dhaka, Bangladesh.

Its core objectives include accelerating economic growth and social progress, promoting active collaboration on matters of common interest across various fields, and providing mutual assistance in training and research.

For India, BIMSTEC holds considerable strategic importance, aligning with its 'Neighbourhood First' and 'Act East' policies.

It provides a crucial platform for regional cooperation, particularly in the strategically vital Bay of Bengal area, focusing on connectivity, trade, and security, and offering an alternative cooperative framework to SAARC.

A key milestone for the organization was the adoption of the BIMSTEC Charter in 2022, which formalized its structure and legal standing. Thailand currently holds the chairmanship of the group